Boosted by bouyant world markets, the price of gold hit a record high of 154.97 yuan (US$19.37) per gram for 99.95 percent pure gold at the close of the Shanghai Stock Exchange on Tuesday.

A total of 3,034 kg of 99.95 percent pure gold was traded at the bourse on Tuesday at a price up 2.04 yuan (US$0.255) on the previous day.

Shanghai's jewelry dealers on Tuesday adjusted the benchmark price for jewelry made of pure gold from 174 yuan (US$21.75) to 182 yuan (US$22.75) per gram, and that for platinum from 320 yuan (US$40) to 326 yuan (US$40.75) per gram.

Meanwhile, as international investors eye the silver exchange-traded fund (ETF) recently approved by the U.S. Securities and Exchange Commission, the silver price passed 3,500 yuan (437.5 U.S. dollars) a kg on Monday at the Shanghai Huatong silver market for the first time in 23 years.

The momentum continued on Tuesday with the price surging by 75 yuan on average from Monday's price.

Liang Haifeng, of Huatong, said the market had witnessed a big shortfall in supply causing a rise in trading.

(Xinhua News Agency April 12, 2006)